Sale of Chinese Products see downfall this Diwali
Amidst the market speculations of the Social Media call to “boycott chinese products”, Confederation of All India Traders (CAIT) said that the sale of chinese products may decline by 30 percent compared to Diwali last year.
According to a report in Business Today, CAIT said in a statement, “As per indications available from the markets of different states, as of now there seems to be an expect decline of about 30 per cent in consumption of Chinese products on this Diwali in comparison to last year which in itself would be a strong indication to China and other countries as far as the consumption of Chinese goods in India is concerned.”
It added that social media has proved its strength again following the results of boycott calls of Chinese products. It also prompted children and even women not to use China-made products for this festive season. But this has left wholesalers and retailers across the country in dilemma, it pointed out.
“These products are already with the wholesalers but there has been a 20 per cent decline in demand from the retail traders as they are worried whether people will actually buy it or not,” Asian age quoted CAIT secretary general Praveen Khandelwal saying.
In a bid to clarify, it informed that most of the goods had already been ordered 2-3 months back, so boycotting at this stage won’t affect China, but the local traders.
It also said that if the sentiments are so strong for boycott, the consumers have to come forward and make their intent very clear since it is a consumer driven market, and therefore, it is expected that the fall in imports might be witnessed in Christmas and New Year season.
The call of boycott has come in the wake of Uri Terror Attack, as China didn’t support JeM chief’s ban in UN. India is a big market for Chinese products ranging from Toys, furniture, gift item to electronic appliances etc. These products are usually cheaper, which is one of the main reasons for its high demand in India.
However, China has denied all such reports, claiming that China recorded highest-ever festive exports to India.